Lecture line Feasibility Study Week 2:

Slide 1:
The technical feasibility study assesses the details of how you will deliver a product or service like
materials, labor, transportation, where your business will be located, technology needed, etc. think the
technical feasibility as the logistical or tactical plan of how your business will produce, store, deliver, and
track its products or services.

Slide 2:
Questions to be asked in making a technical feasibility study.
Is the project possible with current technology?
What technical risk is there?
What are the available technologies to be used?

Slide 3:
How to conduct a technical feasibility study?
Follow these steps to begin your technical feasibility study: 
 
Prepare a preliminary analysis- A preliminary analysis can help you determine whether your project is
worth embarking on potentially costly and time-consuming activities before the time and money are
spent.
Create a projected income statement- If your preliminary analysis determined that your product or
service will fulfill a need, anticipate the income that can be generated and compare it to the costs of
producing your offerings, paying your debts and maintaining normal business operations.
Conduct a market survey-  market survey will help you get a more realistic idea of the revenues your
project will generate. 

Slide 4:
Make a business plan- A business plan describes your product or service offerings in detail, outlines a
production schedule and offers explanations related to startup costs, cost of ongoing operations and
detailed planning in regards to the following: 
Organizational chart
Materials, equipment and supplies
Marketing and merchandising
Facility location
Labor costs
Overhead such as insurance, taxes and utilities
Prepare a balance sheet- A day-one balance sheet should show the assets and liabilities of the
undertaking at the time of project completion, or opening day, before income is generated. Required
assets include the project’s initial cash and financing capital as well as buildings, land and equipment,
while liabilities involve anticipated investments, rent, finance payments and allowance margins for
accounts receivable. 
Review your data and make a decision- When you’ve conducted all of your research and compiled your
facts and estimations, a final review is necessary. This final review serves to revisit the preliminary
analysis and compare it to the data you’ve obtained since then for the purpose of deciding whether your
project is still feasible. This reflection helps you to more clearly assess the risks and costs associated with
this undertaking and make a final decision on whether to begin production. 

Slide 5:
It is a study of the expenditures that will be incurred and the benefits that will be derived from the
system. The economic feasibility of business development is that period during which a break-even
financial model of the business venture is developed based on all costs associated with taking the product
from idea to market and achieving sales sufficient to satisfy debt or investment requirements.

Slide 6:
The business activities common to this are those necessary to develop a conceptual plan for a business
venture based upon one or more financial scenarios.
During the economic feasibility, the following activities must be completed:
Develop a financial analysis that identifies break-even scenarios based upon unit prices, volume of sales,
and costs
Determine whether the business opportunity presents sufficient profit margins to justify a business
venture
Assess the virtues of licensing the opportunity compared to venturing

Slide 7:
The likelihood of a project being completed within its scheduled time limitations and on time. A project's
schedule feasibility is assessed as high if it has a high possibility of being finished on time. In many
circumstances, a project will fail if it takes longer than expected: external environmental conditions may
change, and the project's benefits, expediency, and profitability may be lost.
Schedule feasibility study includes use of the following matters:

Project Estimation;- rough calculation and estimation of timetables

Gantt and PERT charts;- type of bar chart that illustrates a project schedule. A PERT chart is a visual
project management tool used to map out and track the tasks and timelines. Gantt charts are bar graphs;
PERT charts are free-form
CPM (Critical Path Method)- is a scheduling procedure that uses a network diagram to depict a project
and the sequences of tasks required to complete it, which are known as paths.

Slide 8:
It is a measure of how well the solution will work in the organization. It measures the urgency of the
problem or acceptability of a solution

Slide 9:
Is the problem worth solving?
How do the end-users and management feel about the problem?

Slide 10:
The PIECES framework is an outline that breaks down the key elements of a project and helps identify
the stages of the project’s maintenance.

It focuses on the actual work of doing requirements determination. This model is used to classify
identified requirements into one of six subject areas—Performance, Information, Economy, Control,
Efficiency, and Services.

Slide 11:
Performance questions focus on how the system should function for the user. Throughput (the quantity
of work done in a given amount of time) and response time (the average delay between a transaction or
user request and the response to that transaction or user request) are both taken into account.
The information category serves as the foundation for the data or information model that the system
must maintain. Input data, output data, and stored data are all taken into account.

Slide 12:
Economy covers project development and operational cost information, as well as any goals that may be
related to the system's economy or cost reductions.

The control category is strongly linked to system security issues as well as the data modification that is
required.

Slide 13:
Efficiency is an indicator for how accurate a procedure is. "Are things being done correctly?" to put it
another way.

It is simply the system's functional requirements that are linked to services. "What does the system need
to do to resolve the issue?" "What procedures must be followed?" and "What procedures must be
followed?"